Bitcoin Economy Will Be Helpful To Conceal Greeks Richness

The economic disorder of Greece still going down because of lack in imposing strictness over the country with the IMF or International Monetary Fund and the European lenders. There could be a panic happening when citizens took out 2.5 Billion Euros from their accounts in regional banks even if there are heightened restrictions.

And this shaking of economy will lead to Greece embrace more on Bitcoin as secured shelter for wealth and possessions.

Will Grexit Lead Back To Bitcoin?

The amount of 1,800 Euros is limit of withdrawals per month as per capital control restrictions. But that doesn't stop the Greeks from withdrawing all their money from the banks. Hence, they are unstoppable despite on country's capital flight policies.

The order for branching from Republic of Cyprus's money owing problems had made the Bitcoin reach into high zigzag level in terms of price in 2013. For over the years, Bitcoin have been the most commonly used currency on those areas surrounding Greece.

In the mid of 2015 also, due to Grexit, cryptocurrency has been the most stipulated topic over the country.

That summer of 2015, from USD 225.00 per Bitcoin to USD 309.00 as Bitcoins fiat value which is an impact of Grexit.

The chaos continues where banks were close, ATMs isn't operating anymore and credit cards were disconnected and disarmed causing the Greeks to panic.

Coinbase also during that month didn't charge any fees for Europeans and crypto-exchange and the Shapeshift CEO Erik Voorhees also urge the bitcoin community to send little transactions to Greece people. Having said that, Conbase denotes that even if Greek users haven't been able to exercise their platforms, a huge increase in the graph still spotted on those European countries.

Which is more Safe, Mattress or Bitcoin Storage?

The current impale of Greek's bank withdrawals has stunned the regional banking society according to Eidiseis publication. It states that the Union of Greek Banks that "it is not yet their time of pleasure".

Greek people once again go back to storing their money at homes, safety boxes, mattresses or possibly engaging cryptocurrency like Bitcoin. Options are just a handful for citizens to know about having Bitcoin and decentralizing money.

In Athens there are Bitcoin ATMs for withdrawals on the city with regular Bitcoin Meetup group. With higher than 30 USD on current Bitcoin prices, Localbitcoins is fully functional and operational.

The shaky economy in Venezuela, Italy, India and Britain has become the reason for those individuals to embrace Bitcoins. Hence, Greece people specially farmers will soon be using too for they are tired of strictness measures.

The possibility of these citizen to embrace Bitcoin and cryptocurrency is as clear as a mineral water in a bottle. But, one thing to be in mind that the digital storing of Bitcoins is more safer than storing money in the box.